Short Interest in Clean Energy Fuels Corp. (NASDAQ:CLNE) Drops By 6.1%

Clean Energy Fuels Corp. (NASDAQ:CLNE) was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 11,940,000 shares, a decrease of 6.1% from the July 31st total of 12,720,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 6.9 days. Currently, 7.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLNE shares. Scotiabank raised their price target on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.80.

Clean Energy Fuels Price Performance

CLNE opened at $2.87 on Wednesday. The company has a market capitalization of $641.24 million, a P/E ratio of -8.20 and a beta of 2.15. The company has a 50-day moving average of $2.78 and a 200-day moving average of $2.68. Clean Energy Fuels has a 1-year low of $2.17 and a 1-year high of $4.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.82 and a current ratio of 3.17.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. The firm had revenue of $97.95 million during the quarter, compared to analysts’ expectations of $106.45 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts expect that Clean Energy Fuels will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Clean Energy Fuels by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after buying an additional 702,049 shares in the last quarter. SIR Capital Management L.P. increased its holdings in shares of Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after acquiring an additional 246,600 shares during the last quarter. Iridian Asset Management LLC CT bought a new position in shares of Clean Energy Fuels in the 1st quarter valued at approximately $392,000. SG Americas Securities LLC lifted its holdings in Clean Energy Fuels by 411.7% in the 2nd quarter. SG Americas Securities LLC now owns 149,943 shares of the utilities provider’s stock worth $400,000 after purchasing an additional 120,639 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Clean Energy Fuels during the second quarter worth approximately $317,000. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.